Uestion 3 of 5, Step 1 of 1 Elaine is considering purchasing an item that costs \( \$ 625 \) and has a discount of \( 20 \% \). What is the sale price of the item? Round your answer to the nearest cent necessary.

Did you know that the concept of discounts has been around for centuries? In ancient markets, traders would often offer price reductions to entice buyers, much like today's sales! Discounts, such as Elaine's 20%, are a clever way to help both sellers move inventory and buyers save money. It’s a win-win situation that has stood the test of time! As for applying this to Elaine's case, the total discount on the item is \( 625 \times 0.20 = 125 \) dollars. To find the sale price, simply subtract the discount from the original price: \( 625 - 125 = 500 \) dollars. So, the sale price of the item is \( \$500.00 \)!